EyePoint Pharmaceuticals Elects Göran Ando, M.D. as Next Chairman of Board of Directors
September 10 2018 - 7:00AM
EyePoint Pharmaceuticals (NASDAQ:EYPT), a specialty
biopharmaceutical company committed to developing and
commercializing innovative ophthalmic products, today announced
that the Company’s Board of Directors has elected Göran Ando, M.D.,
as its next Chairman of the Board. As part of this transition,
David J. Mazzo, Ph.D., will step-down as Non-Executive Chairman,
but will remain on the Board and will continue to serve as Chair of
the Compensation Committee.
“We are pleased to have Dr. Ando serve as our
Chairman of the Board as we continue our transition into a
commercial-stage specialty pharmaceuticals company,” said Nancy
Lurker, President and Chief Executive Officer of EyePoint
Pharmaceuticals. “Dr. Ando’s deep industry knowledge and guidance
will be particularly valued as we move forward with two planned
ophthalmic product launches of DEXYCU™ and YTUIQ™, pending
regulatory approval. We are grateful for Dr. Mazzo’s past
contributions and the leadership he has provided for almost a
decade as our Chairman and are delighted he will continue to serve
on our Board.”
Dr. Ando was appointed to the EyePoint Board of
Directors in June 2018. He is the former Chairman of the Board of
Novo Nordisk A/S (NYSE:NVO), a global pharmaceutical company, and
has had a distinguished career in the global pharmaceutical
industry that has spanned nearly four decades. Dr. Ando is a Senior
Advisor at EW Healthcare Partners and most recently served as Chief
Executive Officer of Cell Tech Group PLC.
Dr. Ando began his career at Pfizer, Inc., where
he held several senior clinical positions both in the U.S. and in
Europe. Dr. Ando has also previously served as President of the
Astra Research Centre and held various senior appointments at
GlaxoSmithKline plc, including Research and Development Director
for Glaxo Group Research. Following GlaxoSmithKline, Dr. Ando then
joined Pharmacia AB in 1995 as Executive Vice President and Deputy
Chief Executive Officer to lead Research and Development with
additional responsibilities for manufacturing, information
technology, business development and M&A. During his nine-year
tenure as Head of Research and Development at Pharmacia/Pharmacia
& Upjohn, 17 new drugs were approved by the U.S. Food and Drug
Administration (FDA) prior to Pharmacia’s acquisition by Pfizer for
$60 billion. Dr. Ando received his Bachelor of Arts degree from
Uppsala University in Sweden and Doctor of Medicine degree from
Linköping University in Sweden.
About EyePoint
PharmaceuticalsEyePoint Pharmaceuticals,
Inc. (formerly pSivida Corp.) (www.eyepointpharma.com),
headquartered in Watertown, MA, is a specialty
biopharmaceutical company committed to developing and
commercializing innovative ophthalmic products in indications with
high unmet medical need to help improve the lives of patients with
serious eye disorders. The Company has developed three of only
four FDA-approved sustained-release treatments for
back-of-the-eye diseases. In addition, DEXYCU™ was approved by
the FDA on February 9, 2018. DEXYCU, administered as
a single intraocular dose at the end of ocular surgery for the
treatment of postoperative inflammation, is the first and
only FDA-approved intraocular product with this indication.
DEXYCU employs the Verisome® extended-release drug delivery
technology, which encompasses a broad number of related but
distinct drug delivery systems capable of incorporating an
extensive range of active agents, including small molecules,
proteins and monoclonal antibodies. ILUVIEN® (fluocinolone
acetonide intravitreal implant), a micro-insert for diabetic
macular edema, licensed to Alimera Sciences, Inc., is
currently sold directly in the U.S. and several EU countries.
Retisert® (fluocinolone acetonide intravitreal implant), for
posterior uveitis, is licensed to and sold by Bausch &
Lomb, Inc. The New Drug Application (NDA) for EyePoint’s lead
product candidate, YUTIQ™ three-year treatment of non-infectious
uveitis affecting the posterior segment of the eye, has been
accepted for filing by the FDA and is currently under
standard review with a Prescription Drug User Fee Act (PDUFA) date
of November 5, 2018. The Company's pre-clinical development
program is focused on using its core Durasert™ and the Verisome
platform technologies to deliver drugs to treat wet age-related
macular degeneration, glaucoma, and other diseases. To learn more
about the Company, please
visit www.eyepointpharma.com and connect on Twitter,
LinkedIn, Facebook and Google+.
SAFE HARBOR STATEMENTS UNDER THE PRIVATE
SECURITIES LITIGATION REFORM ACT OF 1995: Various statements made
in this release are forward-looking, and are inherently subject to
risks, uncertainties and potentially inaccurate assumptions. All
statements that address activities, events or developments that we
intend, expect or believe may occur in the future are
forward-looking statements. Some of the factors that could cause
actual results to differ materially from the anticipated results or
other expectations expressed, anticipated or implied in our
forward-looking statements include uncertainties with respect to:
our ability to achieve profitable operations and access to needed
capital; fluctuations in our operating results; successful
commercialization of, and receipt of revenues from, ILUVIEN® for
diabetic macular edema, which depends on Alimera’s ability to
continue as a going concern; Alimera’s ability to obtain additional
marketing approvals and the effect of pricing and reimbursement
decisions on sales of ILUVIEN; the number of clinical trials and
data required for marketing approval for YUTIQ™ in the U.S.; our
ability to use data in promotion for YUTIQ which includes clinical
trials outside the U.S.; our ability to successfully commercialize
DEXYCU™ in the U.S.; our ability to successfully build a commercial
infrastructure and enter into commercial agreements for the launch
of DEXYCU and YUTIQ, if approved; our ability to successfully
commercialize YUTIQ, if approved, in the U.S.; potential off-label
sales of ILUVIEN for uveitis; consequences of fluocinolone
acetonide side effects; the development of our next-generation
Durasert shorter-duration treatment for uveitis; potential declines
in Retisert® royalties; our ability to market and sell products;
the success of current and future license agreements, including our
agreement with Alimera; termination or breach of current license
agreements, including our agreement with Alimera; our dependence on
contract research organizations, vendors and investigators; effects
of competition and other developments affecting sales of products;
market acceptance of products; effects of guidelines,
recommendations and studies; protection of intellectual property
and avoiding intellectual property infringement; retention of key
personnel; product liability; industry consolidation; compliance
with environmental laws; manufacturing risks; risks and costs of
international business operations; effects of the potential U.K.
exit from the EU; legislative or regulatory changes; volatility of
stock price; possible dilution; absence of dividends; and other
factors described in our filings with the Securities and Exchange
Commission. You should read and interpret any forward-looking
statements in light of these risks. Should known or unknown risks
materialize, or should underlying assumptions prove inaccurate,
actual results could differ materially from past results and those
anticipated, estimated or projected in the forward-looking
statements. You should bear this in mind as you consider any
forward-looking statements. Our forward-looking statements speak
only as of the dates on which they are made. We do not undertake
any obligation to publicly update or revise our forward-looking
statements even if experience or future changes makes it clear that
any projected results expressed or implied in such statements will
not be realized.
Contacts
Investors:Argot
PartnersKimberly Minarovich(646)
368-8014kimberly@argotpartners.com
Joseph Rayne(617)
340-6075joseph@argotpartners.com
Media:Thomas
Gibson201-476-0322tom@tomgibsoncommunications.com
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